July 2015

In recent weeks, it has seemed to me that an illusionary trick has been taking place. Whilst everyone was concentrating on events in Athens and Frankfurt, the Chinese stock market was crashing before our eyes.

After five years of negotiation, Greece has defaulted on its payment to the IMF. Funding from the international lenders has now ceased, as well as financial assistance from the European Central Bank. This may be a turn for the better.